Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.039%
Price spread now: Backpack against Binance−0.024%7-day average −0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$380.383% of the position
Funding, last 7 days+0.214%+$21 on $10k
+Price spread, last 4 days (all we have)−0.031%−$3 · spread now −0.024%, 7d avg −0.008%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance OPUSDT | 0.1275 | 0.0100 | pay 0.0100% / 8h | 1m 15s | $20.6M | $62.0M | 75x |
| Short | Backpack OP_USDC_PERP | 0.1274 | 0.0100 | get 0.0013% / 1h | 1m 15s | $123K | $188K | 10x |
Binance OPUSDT
Backpack OP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0
- Price spread: −0.024% → −0.008%
- −$1.59
- Slippage, 4 orders
- −$18.28
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$39.88
- Costs to cover
- 0.383%
- Break-even
- never at this rate
Slippage from Binance: live order book, 11 min ago; Backpack: live order book, 12 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Binance live order book, 11 min ago | 0.39 bp | 10.0 bp −$10 | 18.5 bp −$185 | 101.2 bp −$10.1K | doesn't fit |
| Sell Backpack live order book, 12 min ago | 0.39 bp | 9.9 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
OP on 30 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective OP/USDC PERP | −0.1633% | 1h | 0.1268 | −0.518% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1275 | +0.057% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0344% | 1h | 0.1270 | −0.361% | $21K | $65K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1275 | +0.029% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1276 | +0.110% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1276 | +0.085% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0060% | 8h | 0.1275 | +0.031% | $6K | $49K | 10x | as long as short |
| Variational Omni OP | +0.0061% | 8h | 0.1273 | −0.104% | $232K | $47K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1275 | +0.071% | $290K | $963K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1277 | +0.157% | $4.1M | $2.9M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Variational Omni OP
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1275 | +0.035% | $213K | $241K | 10x | as long as short |
| Binance OPUSDTlong | +0.0100% | 8h | 0.1275 | long leg | $20.6M | $62.0M | 75x | |
| Bybit OPUSDT | +0.0100% | 8h | 0.1274 | −0.039% | $18.4M | $26.0M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1276 | +0.094% | $6.0M | $30.3M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1276 | +0.110% | $2.0M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1274 | −0.016% | $20.2M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1275 | +0.031% | $2.9M | $7.3M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1276 | +0.110% | $6.1M | $6.3M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1275 | +0.031% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERPshort | +0.0100% | 1h | 0.1274 | −0.024% | $123K | $188K | 10x | |
| edgeX OPUSDC | +0.0100% | 4h | 0.1274 | −0.022% | $9K | $386K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1272 | −0.204% | $323K | $4.8M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1276 | +0.110% | $46K | $721K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1276 | +0.094% | $189 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1276 | +0.141% | $176K | $234K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1276 | +0.087% | $102K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1275 | +0.017% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1276 | +0.094% | $1.0M | $278K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0358% | 1h | 0.1277 | +0.173% | $803K | $749K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0438% | 1h | 0.1275 | −0.001% | $709 | — | 20x | as long as short |
Aster OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP